Hike In Gold Rate Continues

A hike in the price of gold is observed gradually. Gold rate has reached 3-month-high at present. As rate from the Bullion market increased by Rs.245, price of 10 grams of gold is now Rs.27,245. Effect of international markets, fall in rupee value and stock market crash have resulted in hike in gold rate, says Bullian market. An ounce of gold is now priced at $1,158 (American) in Singapore market. In New York market, rate increased by 0.6% and reached $1,159. Silver rates also saw a hike. As of now, after an increase by Rs.150, 1 kg silver is priced at Rs.36,600. Trade circles say that price of silver rose due to its increased usage for industrial purposes.